Cyber criminals siphon off Rs 1.5 cr from Axis bank

| | Bokaro
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Cyber criminals siphon off Rs 1.5 cr from Axis bank

Tuesday, 09 June 2020 | PNS | Bokaro

In a shocking incident, criminals hacked the Axis Bank’s system and transferred Rs 1.5 crore to their 19 personal accounts in different states. 

According to the police, cyber criminals hacked the bank’s system and transferred 1 crore 55 lakhs 57 thousand 447 rupees from Dhanbad Central Co-operative Bank’s office account (which is in Axis Bank) to their personal accounts through National Electronic Funds Transfer (NEFT) and through Real-Time Gross Settlement (RTGS) fund transfer mode on 29 and 30 May.

Later, on 7 June Raman Srivastava the Technical Officer of Dhanbad Central Co-operative Bank’s lodged a complaint at Dhanbad Cyber Police station and the police have started the investigation. Sumit Saurabh Lakra DSP, Cyber Crime Dhanbad, who is investigating the case said, the cyber criminal transferred the amount without initiating any transaction request. “The amount had been earlier transferred from Co-operative Bank’s account (172010200000383) to AXIS bank’s office account through RTGS and later transferred to other accounts,” he added.

“In the preliminary investigation, we have found that the aforesaid amounts have been transferred into 19 accounts present in different states, which have been credited with invariable amount transfers by breaching the bank’s RTGS account guidelines,” said Lakra.

On 29 and 30 May, the amounts were transferred to different bank accounts in different states of the country on the basis of fake entries. The Co-operative Bank did not make any such entry, he said.

“Though, we are also examining the internal links and assessing the situation and connect inside the branch of Axis Bank,” he added.

Meanwhile, the Co-operative Bank’s official alleged that it’s the negligence of Axis Bank as no request for RTGS has been forwarded to Axis Bank on behalf of the bank on the said dates, said Srivastava adding “On 30 May, the Co-operative Bank had informed the case to Axis Bank.”

It’s a new modus operandi (MO) of Cyber Crime; without the involvement of any bank’s employee or any technical support providers (to the bank) such type of hacking by breaching the RTGS system and transfer of funds (on the basis of fake entries) are not possible, said Deepak Kumar, Ethical Hacker and Oracle Certified professional.

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